HR Management is probably one of the largest costs employers have to bear. The human resource departments are responsible for hiring, retaining, and firing employees, while ensuring the current workforce is receiving the appropriate compensation for their performance in an organization. Usually, organizations are required to invest in an entire HR department. However, what happens if you don’t have the costs for managing HR?
This is where HR SaaS tools might prove to be handy. These online systems provide a long list of features and tools that help with managing complex HR tasks, including hiring/retaining new talent, calculating payroll, analyzing employee performance, managing projects, and providing crucial deadline details. The software tends to be easy-to-use, compliant, and accurate, allowing owners to leverage valuable reporting and instantaneous problem solving.
Below is a quick guide for helping you get acquainted with HR SaaS.
What Is HR SaaS?
Essentially, HR SaaS is a tool that makes it easier for managers and employees to work more accurately, efficiently, and in a real-time platform. These tools can be purchased online after engaging a vendor. The software can be set up in a relatively short time, after you’ve decided what features you may require or not. Compared to on-premise applications, which can take weeks or even months to install and configure, this process is incredibly quick and easy.
Since the tool is available online, it can be accessed from any device as long as it has an internet connection and web browser. This means, employees can easily access their data, upload files, and view projects from any device, be it a smartphone, tablet, laptop, computer, or any other device that has Wi-Fi or access to GPS. This is why SaaS applications are often known as on-demand or hosted software.
What Is The Origin Of The HR SaaS?
Over a decade ago, it was quite common for businesses to hire specialist IT software companies that had the desired skills for developing a customized HR management solution for automating all crucial human resource tasks. However, as new companies came into existence, there was an increased need for more cost-efficient mediums for managing HR. Eventually, the internet gained accessibility and popularity.
This paved the way for SaaS, which is an extension of an ASP model. Soon enough, vendors began offering cloud-based HR solutions that were based on SaaS models. Thanks to this remarkable innovation, businesses of all sizes are now able to acquire advanced technology and entire systems for their HR, without having to worry about hiring a software developer or creating an entire human resource department.
Since HR SaaS is a cloud-based software, businesses gained the ability of managing their human resources easily from their hand-held devices and other technologies that have the ability of connecting to the internet. Data can be transmitted in real-time, allowing for instant collaboration and networking. As the software is scalable, you only need to pay for what you need. Businesses no longer have to pay huge capital costs for licensing, as HR SaaS uses a pay-as-you-go model.
HR SaaS even eliminates the costs for updates, repairs and maintenance, as you are acquiring the service from a vendor. When compared to on-premise software, which required an entire IT department present for maintenance tasks, this option proves to be incredibly budget-friendly. The provider will be responsible for hosting the application, performing backups, and updating security firewalls, minus any charges.
The key is to select an HR SaaS application that offers all the tools and features you will need to enhance your HR functions and optimize the productivity and growth of your company so you can achieve your goals.